REFRESHE RS TRAINING 2016 Transport & Fixtures 1 Organise Your Finances

REFRESHE RS TRAINING 2016 Transport & Fixtures Session Goals Understand the principles of budgeting and group finance Understand the Student Activities finance processes Develop essential practical knowledge Inspire the confidence to budget and deliver a financially sound year in office

REFRESHE RS TRAINING 2016 Transport & Fixtures Key Contacts Brianna Middleton- Macpherson CP Societies & Media Alex Reilly CP Sports & Development Ian Stewart Student Activities Manager Alex Vince Development Co-ordinator Nelson Mendes Finance Manager Matt Scales Deputy Finance Manager

REFRESHE RS TRAINING 2016 Transport & Fixtures Accounts Transport Account Social Account Special Account Main Account Core activities Capital investment New projects and initiatives Social Events Group clothes and extra kit Transport to and from fixtures and training Can be used for setting up reserves, productions and tours Contact Student Activities if you require one of these

REFRESHE RS TRAINING 2016 Transport & Fixtures Getting Money Membership Fees Your members pay membership fees that go into your account Societies Membership fees from £3-10 Fees are split between Main and Social accounts Clubs Tier fees differ from club to club Usually covers all costs of the club (incl. kit) Sponsorshi p Local or national businesses Monetary donations On-going offers/discounts Two way contract Obligations Terms of sponsorship Do not sign until checked by Student Activities Student Activities Annual Budget Setting Plans for next year Requirements for spending Bidding process

REFRESHE RS TRAINING 2016 Transport & Fixtures Financial Processes – Money In Membership Fees Money goes directly into your account. Though it may take a few weeks to appear as it is processed through our Finance Office. Sponsorshi p Reliant upon the contract Cheques Invoice for funds Written agreement for goods and services Student Activities Grant credited to your account at the start of the year

REFRESHE RS TRAINING 2016 Transport & Fixtures Financial Processes – Money Out Spend and reclaim - £100 limit 1.Spend your own money on the item or service 2.Keep the receipt 3.Submit a claims form with the receipts attached to the Treasurer. This must then be ed by the Treasurer, with a picture of the receipt attached to 4.Student Activities check the claim and pass it on to the Finance Department (or reject the claim) 5.Finance Department process claim and send payment via BACS transfer (7-10 days) Purchase Order Forms 1.Decide what you want to buy/hire 2.Fill out a Purchase Order Form and send it to the Student Activities Office 3.We check the purchase order against your accounts to see if you have sufficient funds 4.Contact the supplier and either ask for an invoice or pay by credit card in the Office 5.When asking for an invoice ask for it to be supplied to “SURHUL” 6.We hand to the Finance Department for processing 7.The invoice is paid directly from you groups’ account

REFRESHE RS TRAINING 2016 Transport & Fixtures Forms Claiming money from your accounts Yourself or others Claims Forms Depositing money into your account Can also be used for other accounts Specify whether for RAG Paying-in Forms Used for ‘special’ purchases Usually online or for invoice Must be done in the Student Activities Office Purchase Order Form Moving from one group’s accounts to another Typically used for transactions such as Socs/Colours Ball Payment, Equipment Rental, etc. Internal Transfer Request

REFRESHE RS TRAINING 2016 Transport & Fixtures

REFRESHE RS TRAINING 2016 Transport & Fixtures

REFRESHE RS TRAINING 2016 Transport & Fixtures Referee receipts Referees are usually paid cash in hand on the day of the match. Get referee to fill out referee receipt like this after match and claim it back just like with any other receipt.

REFRESHE RS TRAINING 2016 Transport & Fixtures Good Practice When assessing your club / society finances you should take in to account: –Timing differences –Yet to be unclaimed amounts –Pending internal transfers It’s good practice to keep your own records of spending and reconcile these to your actual accounts

REFRESHE RS TRAINING 2016 Transport & Fixtures Account statements Request them from us regularly – at least once a month! Only Ian, Alex.V, Brianna or Alex.R can them or print them Make sure the statements match your records – sometimes we make mistakes!

REFRESHE RS TRAINING 2016 Transport & Fixtures Main Account v Social Account The two accounts work slightly different: –Main Account rests each year and holds your allocated –Due to this the “Account Balance” at the top isn’t always accurate, but the “History Balance” at the bottom will tell you what has happened this year –Social Accounts roll over so you can always read the “Account Balance” at the top

REFRESHE RS TRAINING 2016 Transport & Fixtures

REFRESHE RS TRAINING 2016 Transport & Fixtures

REFRESHE RS TRAINING 2016 Transport & Fixtures

REFRESHE RS TRAINING 2016 Transport & Fixtures Working with Student Activities What we can do for you Accept and process forms Deposit money Provide copies of your accounts Explain your accounts to you Provide access to the Finance Office Provide financial advice and guidance What you need to do for us Keep accurate and up-to-date record and budgets Fully justify claims (evidence and explanation) Know who is claiming what and who is spending money on what Ensure claims are processed in a timely fashion Claiming Money Back When you are expecting money back you will get a cheque that can be picked up from Reception when is has been processed. You will receive an confirming when it is ready.

REFRESHE RS TRAINING 2016 Transport & Fixtures Annual Budget Physical document submitted at the end of each academic year, serving as: –A review of the past year’s accounts –Learning exercise for the new committee It should include information about: –Membership numbers and fees paid –Major transactions –Major capital investments –A full inventory of your equipment This should be completed and submitted along with the Annual Grant Application

REFRESHE RS TRAINING 2016 Transport & Fixtures Annual Grant Sum of money awarded to your club / society by the Student Activities Office Based on the strength of application and the reasonableness of your planned spending You must show: –What you will be spending the money on –How it will benefit your members –What other fundraising efforts or financial contributions you will be engaging in Money will not be awarded without purpose or to clear debts. Development projects and new ideas are always welcome.